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top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
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RBA fuels rate rise speculation

By Staff Reporter
29 September 2009 | 1 minute read

The Reserve Bank of Australia governor Glenn Stevens has increased speculation that rates may be raised sooner rather than later.

Speaking at a Senate Inquiry yesterday, Mr Stevens cautioned that keeping rates too low for too long could produce a housing bubble.

Mr Stevens said he endorsed the government’s fiscal stimulus but warned that they must stick to the strategy of winding back the spending.

“I haven’t really had a serious problem with what’s occurred on the fiscal front thus far,” he said.

“It’s important these measures should be wound back over time, but they’re on track to do so.

“The more important issue will be for the joint support being given by both fiscal and monetary policy to be withdrawn in a timely fashion as the recovery proceeds – not too soon because we don’t want to abort the recover, but not too late as we don’t want to overheat it.”

According to the Australian Financial Review, money markets raised the chances of a rate rise at the 6 October board meeting to 23 per cent, up from 15 per cent.

RBA fuels rate rise speculation
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Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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Enter your email to receive the latest real estate advice and tools to help you sell.